TSMC's Q3 revenue exceeded expectations, and it anticipates capital expenditures to significantly surpass $101 billion over the next three years (2026-2028).
TSMC announced its Q3 earnings on October 15, with quarterly revenue reaching $46.6 billion, a 16% increase quarter-over-quarter, exceeding market expectations. The company's Q4 revenue guidance midpoint is $53.3 billion, and its full-year growth guidance has been raised to 44%. Management confirmed that capital expenditure for 2026 will remain unchanged in the range of $60 billion to $64 billion, and explicitly stated that the total capital expenditure for the three years from 2026 to 2028 will significantly surpass the historical total of approximately $101 billion from 2023 to 2025. JPMorgan Chase analysis suggests this provides semiconductor equipment manufacturers with long-term order visibility beyond a single fiscal year.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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